2 0
Read Time:55 Second
How to Grow a Billion-Dollar Company Without Taking Huge Risks
The co-founder and co-CEO of Warby Parker says it’s important to take small steps and make informed decisions for your business.

Successful entrepreneurs are often seen as impulsive gamblers. Neil Blumenthal says he used a different strategy to grow billion-dollar eyewear brand Warby Parker: minimizing risk.

According to Blumenthal, building your business strategy around risk minimization can save money and help your company scale to meet demand. Warby Parker’s first retail store was a showroom built into its New York City-based office–followed by pop-up stores and, eventually, a brick-and-mortar storefront. Each experience allowed Blumenthal’s team to learn what parts of the shopping experience did and didn’t work for consumers.

“We didn’t come in with any assumptions on what the right thing to do was,” says Blumenthal. “It was ‘Let’s learn, get better, and evolve.'”

The key to minimizing risk is threefold: Be flexible, take small steps, and make informed decisions.

More to Read: How to Turn Your Craziest Business Ideas Into Reality

TimothyO.U

About Post Author

TimothyO.U

TimothyO.U is the Editor-In-Chief, and Founder of Cbl Media.
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
100 %
Sleppy
Sleppy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
100%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

One thought on “Neil Blumenthal: How to Grow a Billion-Dollar Company Without Taking Huge Risks

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Translate »